First graph, second sentence of release should read: On initial test the well flowed rich gas at rates in excess of 400 MCFD. (sted On initial test the well flowed rich gas at rates in excess of 400 MMCFD).
The corrected release reads:
DEJOUR ENERGY TIES IN INITIAL PRODUCTION AT ITS 77% WI SOUTH RANGELY DISCOVERY
Dejour Energy Inc.
(NYSE MKT: DEJ / TSX: DEJ),
an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, today announced that it has commenced production at the Company’s South Rangely leasehold from its successful discovery well drilled in Q4 2011. On initial test the well flowed rich gas at rates in excess of 400 MCFD. Dejour maintains a 30% WI in the discovery, but holds a 77% WI in the balance of the unitized 6300 acre leasehold. Dejour and its partner will now focus on the Hz production potential for oil that has been encountered in a down dip extension of the same Niobrara formation south of this leasehold.
“Production at South Rangely signifies the execution of an important component of our 2012 strategic plan. We committed in Q1 2012 to unitize relevant acreage associated with this Dejour operated leasehold and have achieved this milestone. South Rangely represents the Company’s first U.S. based production. This well will not only contribute incremental revenue but secure the leasehold and set the stage for future development collaborations in this developing play,” says Hal Blacker, Dejour COO.
Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin (approximately 130,000 net acres) and Peace River Arch regions (approximately 10,000 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders' best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange MKT (NYSE MKT: DEJ) and Toronto Stock Exchange (TSX: DEJ).